OAKS, Pa., June 27, 2019 /PRNewswire/ -- SEI (NASDAQ:
SEIC) today announced its Advisors' Inner Circle Fund®
Trust (AIC) is extending its platform to offer asset managers the
opportunity to launch exchange traded funds (ETFs) within its
turnkey series trust operational infrastructure.
The AIC platform's expansion is in response to the SEC's
exemptive relief that grants the operation of actively-managed,
non-transparent ETFs, as well as the potential adoption of new Rule
6c-11 under the Investment Company Act of 1940 that would allow
ETFs to operate without obtaining exemptive orders from the
SEC. These regulatory developments are anticipated to provide
new opportunities to registrants and an expected boost for the ETF
industry.
Similar to its services supporting mutual funds, AIC will
provide asset managers, who are seeking to launch an ETF, the
opportunity to leverage SEI's flexible operating structure and
service solution. The platform includes an independent board of
trustees and a scalable infrastructure that encompasses fund
administration, accounting, investor servicing and distribution
services. Since its inception, the AIC platform has grown to
represent one of the nation's largest series trusts with more than
$70 billion in assets across 133
funds on behalf of 45 investment advisors in the second
quarter of 2019.
"As a result of the SEC's ETF-related regulatory developments,
we believe the asset management industry will likely experience new
demand from registrants interested in entering the ETF space and an
increase in non-transparent, active ETF fund launches," said
Rob Owens, Managing Director of
SEI's Investment Manager Services division.
"The Advisors' Inner Circle Fund Trust has expanded its
comprehensive operating platform to address the many facets and
specific requirements of transparent and non-transparent ETFs,"
added Mike Beattie, Managing
Director of SEI's Investment Manager Services division, President
of Advisors' Inner Circle Fund. "The AIC platform provides managers
access to an independent board of trustees, legal counsel and a
CCO, as well as the financial benefits of sharing trust-level
expenses with other platform members. Managers will also benefit
from an experienced, strategic relationship manager and
cost-effective access to the industry's best auditors and
custodians."
SEI helped pioneer the series trust concept over 27 years ago by
introducing the Advisors' Inner Circle Fund Trust via an
institutional-quality turnkey mutual fund operating platform. The
AIC series trust enables investment organizations to rapidly launch
and grow mutual funds and exchange traded funds without having to
build their own fund operating infrastructure. The solution is also
designed for asset managers seeking a more cost-effective way to
operate their existing mutual funds, ETFs and liquid alternatives
funds.
About SEI's Investment Manager Services
Division
Investment Manager Services supplies investment
organizations of all types with advanced operating infrastructure
they must have to evolve and compete in a landscape of escalating
business challenges. SEI's award-winning global operating platform
provides investment managers and asset owners with customized and
integrated capabilities across a wide range of investment vehicles,
strategies and jurisdictions. Our services enable users to gain
scale and efficiency, keep pace with marketplace demands, and run
their businesses more strategically. SEI partners with more than
550 traditional and alternative asset managers, as well as
sovereign wealth managers and family offices, representing over
$24.5 trillion in assets, including
45 of the top 100 asset managers worldwide. For more information,
visit seic.com/ims.
About SEI
After 50 years in business, SEI
(NASDAQ:SEIC) remains a leading global provider of investment
processing, investment management, and investment operations
solutions that help corporations, financial institutions, financial
advisors, and ultra-high-net-worth families create and manage
wealth. As of March 31, 2019, through
its subsidiaries and partnerships in which the company has a
significant interest, SEI manages, advises or administers
$945 billion in hedge, private
equity, mutual fund and pooled or separately managed assets,
including $332 billion in assets
under management and $609 billion in
client assets under administration. For more information, visit
seic.com.
Company
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Media
Contact:
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Leslie
Wojcik
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Sam
Reinhardt
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SEI
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Prosek
Partners
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646-494-7609
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lwojcik@seic.com
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sreinhardt@prosek.com
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SOURCE SEI